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Where Fashion Is Finding Growth in Asia as China Stalls

India will be a major focus in the year ahead, particularly for high-street players, while Japan’s luxury boom is expected to continue, according to the BoF-McKinsey State of Fashion 2025.
Dior show in India
Dior show in India. (Dior)
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After years of impressive growth, China’s economy is now worth $18 trillion and its apparel market is the second largest in the world. In 2025, the IMF projects China’s economy will grow by 4.5 percent, outpacing global GDP growth of around 3 percent.

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Further Reading

The State of Fashion 2025: Challenges at Every Turn

The ninth annual State of Fashion report by McKinsey & Company and BoF Insights, The Business of Fashion’s data and advisory team, reveals that economic and geopolitical challenges, combined with shifts in customer values, will define a turbulent year ahead. Download the full report to understand the 10 themes that will shape the industry and the opportunities for growth in 2025.

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